The Daily Start-Up: Ticket Evolution Nabs $3.5M For Large Events

Ticket Evolution, a software platform aimed at streamlining the distribution of tickets for large events, has raised $3.5 million in Series A funding from Raptor Ventures (the venture arm of Raptor Group) and Dace Ventures. Ticket Exchange was started less than two years ago by three ticket brokers who said they'd grown tired of submitting to the "unreasonable demands and policies" of major ticket aggregators and platforms.

Recommind, a company that made its name in e-discovery, is planning to expand the big data platform that runs its application into areas beyond legal research. The company's revenue has roughly doubled each year to $46 million last year. It now plans to make its platform available to customers who want to build applications on top of it and capitalize on some of the excitement around the big data movement.

Also in today's VentureWire: Horizon Technology Finance said it has provided a $1.5 million venture loan to StreamBase Systems, a provider of technology to speed the processing of large amounts of data... Castlight Health has a new president, John Driscoll, who previously was a group president at pharmacy benefits company Medco Health Solutions...andFacebook's stock ended its first day as a public company barely above its IPO price, showing that demand for shares was not as strong as the company and its bankers had hoped.

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